PHOENIX — The metro Phoenix housing market gained over $36 billion in value in 2018, according to a popular real estate website.
Zillow analyzed housing market data from the last year and found that Phoenix’s market made up 71 percent of Arizona’s more than $708 billion in housing value in 2018.
The national housing market is more valuable than ever at $33.3 trillion, Zillow said.
Despite hitting its lowest point in 2012, the national housing market has gained $10.9 trillion in value and is now worth $4 trillion more than it was at the housing bubble’s peak.
The Phoenix market has not yet totally recovered, as it is still 8 percent less valuable than it was at the bubble’s peak, Zillow said.
Arizona’s housing market has gained more than $296 billion throughout its recovery from the Great Recession, making up 2.7 percent of the overall U.S. recovery gain.
The California housing market accounted for… Continue Reading: Phoenix housing market gained over $36B in value last year